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September 19, 2011 Get Retirement News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

Fiduciary Services Program Manager
for Fiduciary Consulting Group, LLC in NH

Plan Administrator
for The Newport Group, Inc. in FL, TX, VA

Retirement Services Operations Manager
for State Bank & Trust in MN

Retirement Plan Administrator
for Indiana Benefits, Inc. in IN

Relationship Management Specialist
for Prudential in CA

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Webcasts and Conferences

"457(b) Plans for 401(k) Practitioners" - A 3-part Web Seminar
Nationwide on November 1, 2011 presented by SunGard Relius

"Don't Be Caught Short: Short Plan Years" Web Seminar
Nationwide on September 27, 2011 presented by SunGard Relius

"Electronic Participant Fee Disclosure" Web Seminar
Nationwide on October 12, 2011 presented by SunGard Relius

"ERISA Workshop 2011" - Appleton
in Wisconsin on October 19, 2011 presented by SunGard Relius

"ERISA Workshop 2011" - Charlotte
in North Carolina on October 19, 2011 presented by SunGard Relius

"ERISA Workshop 2011" - Cleveland
in Ohio on October 20, 2011 presented by SunGard Relius

"ERISA Workshop 2011" - Detroit
in Michigan on October 21, 2011 presented by SunGard Relius

"ERISA Workshop 2011" - Nashville
in Tennessee on October 20, 2011 presented by SunGard Relius

"Premature Distribution Penalties" Web Seminar
Nationwide on October 7, 2011 presented by SunGard Relius

Newly Updated CLE Program: Fee Disclosure: What You Need to Know and What You Need to Do Now
in New York on September 22, 2011 presented by WEB (Worldwide Employee Benefits Network ), New York Chapter


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[Guidance Overview]
New Preventive Care Requirements for Women
"These rules do not apply to flexible spending accounts or separate dental/vision plans. Health Reimbursement Arrangements are subject to these requirements, unless structured to provide only limited-scope benefits (e.g. dental/vision coverage)." (Warner Norcross & Judd LLP)


Summaries of Benefits and Coverage: New Guidance Webinar 9/21/11   [Advert.]

Sponsored by Practical Law Company, Inc.

Learn about the extensive new regulations, including coverage examples and uniform glossary. Chris Condeluci, Of Counsel at Venable LLP, will discuss who must prepare and provide SBCs, appearance and language rules, penalties and more. Register now!


[Guidance Overview]
States Address Tax Consequences of Health Coverage for Adult Children (PDF)
"PPACA amended the Internal Revenue Code to exclude from an employee's income for federal tax purposes the value of health coverage provided to an adult child through the end of the year in which the adult child turns age 26. Many state income tax laws did not provide automatic conformity with this tax treatment. All states have now addressed this issue. There are special considerations for Hawaii, Kentucky, and Wisconsin." (Buck Consultants, LLC)

[Guidance Overview]
Guidance on New Disclosure Requirement for Group Health Plans and Insurers: the 'SBC'
"Plan sponsors should take the following steps to prepare for complying with the SBC requirement: 1.) Determine how many benefit options will be offered under the group health plan(s) for the 2012 Plan Year and establish how many SBCs will be required 2.) Determine what method will be used for distributing the SBC(s), (paper or electronic?) 3.) Negotiate with third-party service providers to determine who will be preparing the SBCs, who will provide notice modifications when necessary, and whether the preparation of the SBCs will impact the fee arrangement. 4.) Decide whether the plans will provide SBCs in time for 2012 annual enrollment, even though that is not required, or wait to distribute them by March 23." (Davis Wright Tremaine LLP)

[Guidance Overview]
Michigan Creates Health Insurance Paid Claims Assessment Act
"Michigan has become the newest state to institute an assessment on paid health care claims. Michigan Senate Bill No. 348, effective August 24, 2011, creates the 'Health Insurance Claims Assessment Act' and initiates a 1% assessment on paid health claims." (Faegre & Benson LLP)

[Guidance Overview]
New Reporting Requirements for New York State Employers on Health Insurance Benefits Availability to Dependents
"New York State employers should ensure that they are in compliance with the new reporting requirements. Those employers utilizing payroll providers to file quarterly wage and new hire reports should coordinate with their payroll providers to determine how to identify and report employees who qualify for dependent health insurance benefits." (Schulte Roth & Zabel LLP)

[Guidance Overview]
Fourth Circuit Rejects Challenges to Individual Mandate on Jurisdictional Grounds
"With these two opinions, the Fourth Circuit becomes the third federal appellate court to rule on challenges to the Act, following decisions of the Eleventh Circuit, which recently held the individual mandate unconstitutional, and of the Sixth Circuit, which upheld it." (Practical Law Company)

Nearly All Connecticut State Employees Choose Controversial Wellness Plan
"Ninety-six percent of the employees covered by the state health care plan have enrolled in a new wellness plan that was the subject of controversy surrounding a union concession package earlier this year." (The Connecticut News Project)

Pharmacy Benefit Managers Can Help Midsize Firms Cut Costs
"With pharmacy data that PBMs offer, 'you can identify the cost drivers and identify the actions to take,' said Aon Hewitt's Ms. Zeitel. For example, she said, the data show whether utilization, price or the drug mix is escalating costs. Share that data with your insurer, and look for PBM or health plan clinical programs to help lower costs, Ms. Zeitel said." (Business Insurance)

Military Retiree Benefits Could Face Cuts
"[T]he intense push in Congress this year to reduce the debt and the possibility that the Pentagon might have to begin trimming core programs like weapons procurement, research, training and construction have suddenly made retiree benefits vulnerable, military officials and experts say." (The New York Times; free registration required)

HHS Submits Required Breach Notification and HIPAA Compliance Reports to Congress
"While not covering significant new ground, the reports provide a useful synopsis of breach reporting and compliance activity to-date, and offer some additional insight." (Thomson Reuters/EBIA)

[Opinion]
The Role of Prices in Health Care Spending
"To hard-nosed economists, health care represents just another exchange of favors embedded in a wider market economy that consists of exchanging favors. [A chart] illustrates this exchange." (The New York Times; free registration required)

Benefits in General; Executive Compensation

[Guidance Overview]
IRS Provides Updated Guidance on Tax Treatment of Employer-Provided Cell Phones
"On September 14, 2011, the IRS issued updated guidance (pdf) on the tax treatment of employer-provided cell phones, effectively treating both business and personal use of such phones as exempt from an employee's wages." (Littler Mendelson P.C.)

Michigan House Approves Bill to Stop Domestic Partner Benefits
"The Michigan State House has approved legislation under which cities, counties, schools, universities, and the state would be prohibited from offering domestic partner benefits to the live-in companions of their employees." (PLANSPONSOR.COM)

Should Congress Cut Its Pay or Benefits?
"In April, [an] Ohio Democrat introduced the Shared Retirement Sacrifice Act of 2011, which would require lawmakers to wait until the age of 66 to collect their pensions. Currently, lawmakers can retire as early as 50 with a full pension depending on how long they served." (Cable News Network)

General Motors May Offer Bonuses and Reopen Plant
"In what is being viewed as a landmark deal, the union also preserved health care and pensions and improved profit-sharing for its roughly 48,000 members who work at G.M." (The New York Times; free registration required)

Press Releases



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